- Associated Press - Tuesday, June 14, 2016

SYRACUSE, N.Y. (AP) - A Florida accountant and former New York resident faces up to two decades behind bars after admitting he and another man used $10 million of investors’ money for personal use, including rent on a waterfront condominium and a boat.

The Post-Standard reports (https://bit.ly/1Yp4Tl5 ) 61-year-old Bruce Kane of Fort Lauderdale pleaded guilty on Monday in Syracuse to conspiracy to commit wire fraud. His sentencing is scheduled for October.

Prosecutors say Kane, a former Ithaca resident, was managing partner of a financial firm that solicited money from investors. Burton Greenberg, a chief executive at another financial firm, agreed to invest it.

Both were accused of falsely assuring investors that investments were secure and profitable.

Greenberg of Plantation previously pleaded guilty and was sentenced to more than 8 years in prison.


Information from: The Post-Standard, https://www.syracuse.com

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